Stripe and private equity firm Advent International have made a more than $53 billion offer to acquire PayPal, Reuters reported.
The consortium has offered $60.50 per share, a price that is about 28 percent above PayPal’s previous closing level. The bid is supported by roughly $50 billion in committed financing from banks.
PayPal has not yet responded to the offer, and negotiations remain at an early stage, with no guarantee a deal will be reached.
If the acquisition proceeds, Stripe and Advent would each own half of PayPal, keeping the company intact rather than selling off its businesses.
The combination would unite two of the world’s largest digital payments companies including Venmo and its online checkout business.
Investors welcomed the news, sending PayPal shares up nearly 17 percent.
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